It’s a pretty common story. You have some debt. Maybe a big mortgage. You have a good job, but you want more. So you put some stuff on a credit card. You panic, but pay off enough debt that the crisis is averted. Then it happens again.
It’s a question I often get from readers and versions of it pop up with some regularity in the Reader Mailbag. What can I do with a medium-sized windfall – say, $1,000 or so – that actually makes good long-term sense?